Explain determining the types of the various products
Explain determining the types of the various products that will be produced?
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Consumer sovereignty is the key to determining the types and quantities of the various products that will be produced. “Dollar votes” for a product when purchases are made and “dollar votes” against a product when products are ignored will determine which industries continue to exist and which individual products survive or fail.
One of my friends can't discover the answer of this question. Give solution of this question. Neoclassical production and cost theory is more realistic than and cost theory and heterodox production. Discuss.
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By the perspective of nowadays academic standards, Adam Smith must have more evidently acknowledged that several the analyses and insights for that he took credit within his Wealth of Nations had really been gleaned from the writings
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